Receiving payments from customers (deposits) involves debiting a bank account and crediting one or more customer accounts. With NV2, you don't have to be concerned with debits or credits when entering deposits. You simply specify the bank account for the deposit, and the customers whose checks you are depositing.
Deposits can be added to the Bank Deposits Journal, or directly to a bank account. When you add a deposit to the Bank Deposits Journal, postings are made automatically to the bank account and to the customer account(s). When you add a deposit directly to a bank account, postings are made automatically to the customer account(s), and a journal entry is created in the Bank Deposits Journal. The choice of entering deposits in the journal or in the bank account is completely up to you; the end result is identical either way.
NewViews is able to create EFT Deposits, often called Direct Debit, Direct withdrawal, Pre-Authorized Debit, PAD or Pre-Authorized Fund Transfer.
EFT Deposits let your organization receive payments from customers/donors/members electronically and directly from their bank accounts or credit cards.
As with Paying Vendors (EFT) to receive EFT deposits involves